Global Kitchen Appliances Market Size to Reach USD 230.49 Billion in 2030 | Emergen Research
Rapid advancements and innovation in kitchen appliances technologies and rising health concerns due to COVID- 19 pandemic are key factors driving kitchen appliances market revenue growth
Vancouver, Sept. 14, 2023 (GLOBE NEWSWIRE) — The global kitchen appliances market size was USD 171.68 Billion in 2021 and is expected to register a revenue CAGR of 3.3% during the forecast period, according to the latest analysis by Emergen Research. Technological advancements in kitchen appliances and launch of innovative products are factors projected to support market revenue growth between 2021 and 2030. For example, presently dishwashers are manufactured with more innovative designs, operate more quietly, use less electricity, and clean more thoroughly. The US Department of Energy (DoE) claims that modern dishwashers conserve water and energy by using less water to wash a load of dishes than hand washing. Additionally, for even more thorough cleaning, these machines may produce water at much higher temperatures than one can safely expose to their skin. Dishwashers are now more well-known to customers as a result of pandemic. Today, majority of people in developing countries live in nuclear families and apartment culture is spreading throughout cities. Regular dishwashers’ size, which makes it difficult for them to fit in smaller kitchens, is one of the difficulties associated with them. The recently released little dishwasher may be conveniently placed over a counter or on top of a table without taking up any floor space. Small households frequently wonder whether they actually need a full-sized dishwasher considering their meager dishwashing requirements. For instance, Godrej & Boyce launched Godrej Eon Magnus Counter-Top Dishwasher to manage dishwashing requirements of smaller families. Godrej Eon Magnus Counter-Top Dishwasher is a small model with 8 place settings that can easily wash all typical dishes for two to three-person homes.
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However, high cost of smart kitchen appliances and outdated and insecure technology that makes it simpler for hackers to gain access to the connected system are factors expected to hamper market revenue growth.
Scope of Research
| Report Details | Outcome |
| Market Size in 2021 | USD 171.68 Billion |
| CAGR (2021–2030) | 3.3% |
| Revenue Forecast to 2030 | USD 230.49 Billion |
| Base Year for Estimation | 2021 |
| Historical Data | 2019–2020 |
| Forecast Period | 2022–2030 |
| Quantitative Units | Revenue in USD Billion and CAGR in % from 2021 to 2030 |
| Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments Covered | Product type, fuel type, distribution channel, application, and region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Country Scope | U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa |
| Key Companies Profiled | AB Electrolux, Whirlpool Corporation, LG Electronics, Samsung Electronics, Dacor, Morphy Richards, Koninklijke Philips N.V., Panasonic Corporation, Robert Bosch GmbH, Haier Group, and General Electric. |
| Customization Scope | 10 hours of free customization and expert consultation |
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Major Companies and Competitive Landscape
The global kitchen appliances market is fairly fragmented with small, medium, and large companies accounting for market revenue. Major companies are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective kitchen appliances. Some major companies included in the global kitchen appliances market report are:
- AB Electrolux
- Whirlpool Corporation
- LG Electronics
- Samsung Electronics
- Dacor
- Morphy Richards
- Koninklijke Philips N.V.
- Panasonic Corporation
- Robert Bosch GmbH
- Haier Group
- General Electric
Strategic Development
- 05 May 2022, Voltas and Arçelik, Europe’s leading freestanding consumer durables player introduced a new range of refrigerators and washing machines this summer. These products have been specially innovated keeping health, freshness, and hygiene at the core of innovation. This new line of home appliances will also strengthen their product portfolio. The cutting-edge technology in new refrigerators satisfies changing consumer demands. Voltas Beko is planning to launch HarvestFresh Technology, which deftly imitates 24-hour sun cycle using cutting-edge 3-color light technology. This prolongs freshness and preservation of vitamins in fruits and vegetables by keeping them in their natural environment long after harvest.
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Some Key Highlights From the Report
- The dishwasher segment is expected to register rapid revenue CAGR due to rapid urbanization, rising new infrastructural projects such as smart cities, and rising demand for in-built kitchen appliances. It saves water and time in cleaning utensils and is driving revenue growth in this segment.
- The offline stores segment accounted for largest revenue share in 2021. Customers prefer to buy electrical devices and cookware appliances from retail stores because they can better comprehend product features from salespeople at these establishments. Additionally, these stores offer loyalty points, deals & discounts on a variety of products.
- The North America market accounted for largest revenue share in 2021. This is attributed to rapid advancements in smart kitchen appliances technologies and rising demand for modular kitchens.
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Emergen Research has segmented the global kitchen appliances market based on product type, fuel type, distribution channel, application, and region:
- Product Type Outlook (Revenue, USD Billion; 2019–2030)
- Cooking Appliances
- Refrigerator
- Mixers and Grinders
- Water Purifier
- Dishwasher
- Oven
- Others
- Fuel Type Outlook (Revenue, USD Billion; 2019–2030)
- Electricity
- Cooking Gas
- Kerosene
- Others
- Distribution Channel Outlook (Revenue, USD Billion; 2019–2030)
- Online Stores
- Offline Stores
- Application Outlook (Revenue, USD Billion; 2019–2030)
- Residential
- Commercial
- Others
- Regional Outlook (Revenue, USD Billion; 2019–2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of Middle East & Africa
- North America
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